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Credit check before finally payment
jessnat995
Posts: 108 Forumite
So finally got the offer from Precise.
Now the house isn't compete for around 10weeks.
Will they do another credit search before or do they do bankruptcy?
Thanks in advance
Now the house isn't compete for around 10weeks.
Will they do another credit search before or do they do bankruptcy?
Thanks in advance
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Comments
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jessnat995 wrote: »
Will they do another credit search before or do they do bankruptcy?
You're planning to go bankrupt before completion?0 -
jessnat995 wrote: »So finally got the offer from Precise.
Now the house isn't compete for around 10weeks.
Will they do another credit search before or do they do bankruptcy?
Thanks in advance
What exactly do you mean 'do they do bankruptcy'? Do you mean a bankruptcy check? As this would flag up on the credit check at AIP stage. Your'e not planning on going bankrupt are you?I am a Mortgage Broker.
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Hell no ahha. Don't ever plan on that. And doubt I will in my industry.
Just a curious question0 -
Sorry I should have worded it better.
Do they do another credit check ?
Or
Do they just carry out a bankruptcy check.?
Or neither0 -
Any lender may run further checks before completion.0
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I believe it varies between lenders.
Halifax did a full check on application and then didn't bother doing another one on completion, despite this being months after the original offer.
To be honest, just don't make any major credit purchases in that time and make sure you keep up all the payments.
If you have stuck another £100 on a credit card, I double the lender will care but if you took out a £10k loan.....they may re-evaluate the offer.0 -
Sorry I should have worded it better.
Do they do another credit check ?
Or
Do they just carry out a bankruptcy check.?
Or neither0 -
jessnat995 wrote: »Sorry I should have worded it better.
Do they do another credit check ?
Or
Do they just carry out a bankruptcy check.?
Or neither
They may do both they may do one they may do none.
I was advised by my mortgage broker to maintain what was on the application. Not to go out and buy £2000 sofas on finance from DFS, or lease a new car, or take out any new credit cards, or max out the cards I have.
This can of course all be done after you've moved in though
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